Scape Technologies, a London-based computer vision startup specializing in AI location technology, is dedicated to developing positioning accuracy beyond GPS capabilities,media reported. According to recent regulatory filings, the company has been acquired by Facebook.
The full terms of the deal are not yet known, although updated information shows that Facebook now has most control of the company (more than 75 percent). However, by looking at other documents, including the recently issued shares, the purchase price could be around $40m.
Further documents show that Scape’s former Wind Investment representative has left Scape’s board and replaced by two Facebook executives.
A Facebook spokesman said in a subsequent statement: “We will acquire small technology companies from time to time, and we will not discuss the company’s acquisition plans from time to time.” “